March 4, 2010
If your car is totaled in a wreck, does your insurance typically give you more than the car's value or less?
Effy asked:
I know your insurance company gives you a check for the car's value. I always thought they rip you off and underpay you, but my friend says they actually overpay you.
Atlanta Wrecked Car Selling
I know your insurance company gives you a check for the car's value. I always thought they rip you off and underpay you, but my friend says they actually overpay you.
Atlanta Wrecked Car Selling
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Comments on If your car is totaled in a wreck, does your insurance typically give you more than the car's value or less?
1:05 pm
Atlanta Wrecked Car Selling
you usually get less because in most cases people owe more on the vehicle than what the insurance pays
6:33 am
Atlanta Wrecked Car Selling
they give you a wholesale or dealers price but they will direct you to someone that will sell you a similar car for that price.
On NEW cars some policys replace it with a new car.
6:32 am
Atlanta Wrecked Car Selling
you can get much information in this website, If you will check anyone blue link in website.
3:58 pm
Atlanta Wrecked Car Selling
The insurance companies vary, but typically they will determine the bluebook value of the car BEFORE the wreck and cut a check accordingly.
4:10 am
Atlanta Wrecked Car Selling
not necessary .. it wouldn't be the same price you paid but can look on the Internet for same type of 20 cars and add their price up and multiply by 20 that s the number you will be getting ….
9:31 am
Atlanta Wrecked Car Selling
you will get book if your car is new you will not get enough cash to buy a new one you loose about 3000.00 just driving it off the lot 20,000 car you will get around 17,000
5:59 pm
Atlanta Wrecked Car Selling
depends on your insurance and what you have covered for insurance. dont get into an accendent to see what happens either.
10:49 am
Atlanta Wrecked Car Selling
Answer from a General Insurance Agent
Insurers are required by Law to pay you Fair Market Value for your totaled vehicle.
They can not legally pay you less nor can they pay you more than the car is worth, to do so would be a violation of your States Insurance Code.
Basically, If you got a good deal on your car when you bought it then you could receive a compensation check for more than you paid. If you got a bad deal and actually paid over the market value, then you could wind up with less than you paid or at least less than you think it's worth.
Insurance companies use the NADA book which is actually orange in color, along with their own internal valuation tables to establish the base value of a vehicle. The NADA book value is only a base line guide to start evaluating the value of your vehicle.
No insurer uses the Kelly blue book, that's a book used by car dealers to determine wholesale and retail values of the vehicles they are dealing.
Best of Luck.
8:23 pm
Atlanta Wrecked Car Selling
Insurance companies by law are not required to pay replacement cost on a car unless you have special insurance policy for that. They pay what the market value of the car
would be prior to the accident. Taken into consideration are
things like condition of vehicle, mileage, any signficant
repairs that you have done on ie like a new engine or
upholstery not just that you had the oil changed. Sometimes if you have got a really good deal on the car when you bought it the market price of the car is more than you paid for it. Most times though people get hosed when they buy a new car and are shocked to find out that the car is worth a great deal less than they thought it was. When you have to deal with a totalled car do you own research by going on the internet and looking at the for sale ads in your area. Also always keep your receipts for work you have done on the car. These can all be used to support your claim for the value of the car.